How Market Orientation Can Sustain Islamic Microfinance Institutions?

Even though Islamic microfinance has flourished in the last two decades, still it faces some problems related to its sustainability and outreach. Market orientation has generally developed some strategies for organizations aiming to retain the current customers and attract new ones. In addition, organizations, which are addressed as Islamic, should be Shariah-compliant in all aspects. This paper introduces the market orientation concept which is adapted to Shariah rules and recommends a solution for sustainability problems of Islamic microfinance institutions. Current study tries to provide some intangible instances and evidences to introduce and use Islamic market orientation concept for Islamic microfinance institutions, in particular.